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OctaFX Review

OctaFX.com was formed in 2011, OctaFX is registered in Saint Vincent and the Grenadines under license number 19776 IBC 2011, but its operating center is run out of Jakarta, Indonesia. For this reason, it has focused on Asia as its primary market, although it services customers in over 100 countries around the globe. U.S. clients, unfortunately, are not accepted at this time.

When trying to choose from the plethora of available forex brokers, the prudent path is to review regulatory compliance and to note any significant awards or favorable reviews that your prospective firm has earned. From the standpoint of awards, OctaFX has been exemplary. The Global Banking and Finance Review and the Forex Report Magazine, two online portals that provide informative and independent news for the global banking and finance industry, recognized OctaFX as the “Best ECN Broker 2017” and “Best Trading Conditions in 2016”, respectively. A separate page on the firm’s website details no less than nine awards garnered from 2012 through 2017.

The management team also elected to operate as a STP (Straight Through Processing) ECN broker, thereby permitting tight spreads, fast execution, no slippage, and no re-quotes for its clients. Trading options include major currency pairs, along with gold and silver. Their trading platforms begin with the highly popular Metatrader4 downloadable series, including mobile apps. They also offer a “cTrader” series of platforms that supports additional capabilities not found in MT4 modules. Promotional programs and contests abound on an ever-changing calendar to spark interest. From the CEO down to everyone on staff, “Perfectionism in its best sense, professionalism and goal-orientation is what distinguishes the OctaFX team.”

Features

Why trade with OctaFX.com? The firm lists these reasons:

Founded in 2011 and headquartered in Saint Vincent and the Grenadines;

Platform

OctaFX offers two different trading platforms for your use, each allowing for unlimited access from your desktop, laptop, or mobile device. First, OctaFX grants access to the highly popular MetaTrader series of forex trading platforms. The MT4 set will support your android, iphone, or any WinMobile OS compliant device. Secondly, the firm also provides “cTrader”, what the company states as the new standard in forex trading. Access is similar to MT4, including Apple compatibility, but there are a few additional bells and whistles that make it worth your wile to test out on their free demo system. The latest technology in 128-bit SSL protection routines are utilized to encrypt all trading session and personal data, providing peace of mind from any unexpected compromise from the hacking community.

Deposits and Withdrawals

Accepts deposits via Visa/Mastercard, Bank wire, Skrill, Neteller, and also Local banks transfers in Indonesia and various other Countries. Other domestic payment methods are also supported with new ones being added monthly. Your deposit may be in USD or EUR, and the minimum deposit is $5 for a Micro account balance. A typical withdrawal request will be processed immediately with a confirming email following, as long as personal ID information is on file and in order. International anti-money laundering legislation requires that every global forex broker follow specific rules before any withdrawal request can be approved.

Beginner’s and Customer Support

Customer service representatives in Jakarta, Indonesia are eager to provide support in several languages. They can be accessed “24X5”, each and every business day. OctaFX notes that these reps handle over 2,000 inquiries each day and resolve queries in five minutes on average, a testament to their professional ability to respond in a timely fashion. Email, live chat, and toll-free phone lines provide access. The company also supplies market news, research, and a convenient economic calendar.

OctaFX Conclusion

OctaFX has already garnered a number of prestigious industry awards and favorable testimonials, a good basis for choosing this relatively new entrant in the forex broker arena. They are also one of the few brokers willing to share volume data online. For example, on average, 500 new clients, 50,000 profitable trades, and $4 billion in value traded happen on a daily basis. OctaFX also acts in full compliance with international legislation and regulatory standards, in addition to local oversight. FXEmpire, a reputable forex site in London offered these words of praise, “OctaFX have managed to conquer the hearts and minds of many of their clients with the effort and dedication that they put into providing top notch services to their clients. For those who are in the market for a reliable and efficient forex broker, OctaFX certainly comes highly recommended.”

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Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance. ForexFraud.com is an affiliate partner with various brokers and may be compensated for referred Traders. All reviews remain unbiased and objective and immediate action will be taken against any broker which is found to be in breach of regulation. These partnerships have proven to be great aids in the furthering communication between brokers and our visitors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. Only the NFA regulated brokers featured on this site are available to U.S. customers. Read our full legal disclaimer.

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